Dillard's Inc announces record Q1 Earnings Per Share
22 May '06
3 min read
Immediately prior to its annual meeting, Dillard's Inc announced operating results for the 13 weeks ended April 29, 2006.
Income
Net income for the 13 weeks ended April 29, 2006 was $61.3 million ($0.77 per diluted share) compared to net income of $38.0 million ($0.46 per diluted share) for the 13 weeks ended April 30, 2005.
Highlights
Dillard's remains committed to providing a differentiated shopping experience to position its merchandise mix toward a more upscale and contemporary tone to continue to attract customers who are seeking exciting statements in fashion. Resulting successes in the first quarter include:
Same store sales increased 2 percent for the 13 weeks ended April 29, 2006 compared to the 13 weeks ended April 30, 2005.
Dillard's improved its gross margin performance by 70 basis points of sales compared to the 13 weeks ended April 30, 2005 as customers responded positively to the Company's improvements in its merchandise assortment.
Revenues
Net sales for the 13 weeks ended April 29, 2006 were $1.838 billion compared to sales for the 13 weeks ended April 30, 2005 of $1.803 billion.
During the 13 weeks ended April 29, 2006, net sales were strongest in the Eastern and Western regions, where performance exceeded the Company's total trend for the period. Net sales were slightly below trend in the Central region.
Net sales in accessories/lingerie and furniture significantly exceeded the Company's average sales trend for the 13 weeks ended April 29, 2006, while performance in children's apparel was significantly below trend.
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